AND ON THE CONTINENT

191

rather, always historically preceded a proportional division ofpolitical power. Countries with unequal division of possessionswere always oligarehal—thus countries of landed estates, ofcommerce, and of flourishing centralised industries. First, inproportion as the machinery system, developing itself, raises theworking classes economically, do they gain real influence, of whichthe present Labour party lacks the first stage of the development,because it is based upon economical weakness.

Now in what way, we ask, are the widely extended savings ofthe cotton operatives of Lancashire invested? Into account comeinsurance societies of every kind, especially the large and richfriendly societies; further, Government as well as private savingsbanks, building societies, industrial undertakings, etc. (4). Herewe only bring to notice two kinds of investments; the co-opera-tive, societies and “ limited ” concerns. Regarding the co-opera-tive societies I refer to what is said in the first volume of my book“ On Social Peace,” as well as that excellent work by Miss Potter.

As an instance, we only point out here the tremendous businesstransacted by the Oldham Co-operative Society. This societyconsisted, in December, 1890, of 11,000 members, belongingexclusively to the working classes, and had in the year 1889 netreceipts of £341,195. It possesses a large number of shops forgroceries, clothing, bread, and butcher’s meat, for boots and shoes,furniture, drapery, etc. It has, further, a branch for buildinghouses, and had up to the time mentioned built 623 operatives’houses for about £100,000, which, for the most part, had alreadybecome the private property of individual operatives. In addi-tion, there is a savings bank attached to the society, with depositsamounting to £18,000. The society has invested a part of itsproperty in limited spinning-mills, partly in shares and partly inloans. It paid £50,000 in dividends to its members in 1889—that is, nearly £5 per member, in addition to £5,000 interest toloan owners.

Besides this, the society spent considerable sums on educationand recreation. The Educational Committee had arranged, in theyear mentioned, a large number of lectures on various subjects,partly in connection with the University Extension Scheme, partlywith those institutions which apply themselves, as pointed out

4. Compare Report of the Commission on Depression of Trade, SecondReport, part I., p. 136,